1913 nickel found in closet to fetch $2.5 million

1913 nickel found in closet to fetch $2.5 million

A rare 1913 Liberty Head nickel that lay in a closet for three decades will be sold in April for an anticipated $2.5 million.

Four siblings from Virginia are consigning the coin, thought by their mother to be a fake for 41 years, and ensconced in her closet for the last 30.

One of just five of these coins known to exist, this coin has had an exciting life.

These coins were cast at the Philadelphia mint until 1912, the last year of its issue, when it was replaced by the Buffalo nickel. This example was created illegally in 1912, with 1913 stamped onto its face. It is suspected that a mint worker altered the coin, in order to create rarities that he later sold.

The five remained together until 1942, when they were sold off to various owners. A North Carolina collector purchased one of them in the mid 1940s. He had the coin with him when he was tragically killed in a car crash in 1962. It was found amongst hundreds of coins at the crash site.

One of his heirs was given the coin, but was told it was a fake because of the incorrect date. She put it in an envelope and kept it in her closest for 30 years. Following her death in 1992, her four children had it appraised once again, and discovered it to be one of the rare nickels, the long missing fifth example.

The coin will be offered at a Heritage Auctions Rare Coin and Currency sale on April 25.